Connect with us

Hi, what are you looking for?

Economy

Bitcoin and Ethereum: Bitcoin bounces back above $26,000

Le Bitcoin explose les compteurs et prend plus de 7% mercredi 26 octobre 2022

Bitcoin and Ethereum: Bitcoin bounces back above $26,000

  • Bitcoin price has continued its recovery since yesterday.
  • Compared to yesterday, we don’t have any big moves on the Ethereum chart.

Bitcoin chart analysis

Bitcoin price has continued its recovery since yesterday. We are again above the $26,000 level and manage to stay at that level. The current bullish consolidation could take us above the $26200 level, which would lead to the formation of a new higher high. We have additional resistance at that level in the EMA50 moving average, and we need a break above it in order to get rid of the bearish pressure.

Potential higher targets are $26400 and $26600 levels. We need a negative consolidation and pullback to the $25800 support level for a bearish option. For two days now, that level has provided us with solid support. A break above could mean a continuation of the Bitcoin price pullback. Potential lower targets are $25600 and $25400 levels.

Bitcoin chart analysis

Ethereum chart analysis

Compared to yesterday, we don’t have any big moves on the Ethereum chart. The price is still moving in the $1730-$1760 range. We are currently consolidating around the $1750 level and could see a breakout to the $1760 upper resistance line. The price would move above and eliminate the bearish pressure. In the future, the price would have the opportunity to start a further recovery.

Potential higher targets are $1770 and $1780 levels. In the zone around the $1790 level, we encounter the EMA50 moving average as an additional resistance at that level. We need a negative consolidation and a pullback to the $1730 support level for a bearish option. A fall below it could lead to the formation of a new lower low. Potential lower targets are $1710 and $1700 levels.

Ethereum chart analysis

The post Bitcoin and Ethereum: Bitcoin bounces back above $26,000 appeared first on FinanceBrokerage.

You May Also Like

Financial News

McCarthy’s Speakership Hangs in the Balance as House Greenlights Stopgap Funding Bill: A Defining Moment Looms In a stunning turn of events, the future...

Financial News

Conservatives Call for GOP Candidates to Step Aside After Second Debate: A Call to Streamline the Republican Race In a surprising turn of events,...

Financial News

Poll Unveils GOP Primary Voters’ Resounding Verdict on Best Republican Debate Performance In the midst of a heated Republican primary race, the GOP primary...

Financial News

Jeffries’ Strategic Maneuver: Outsmarting McCarthy to Avert Shutdown Crisis